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Robinhood share price down 70% from August high
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As Robinhood struggles with its declining share price, could ramping up its cryptocurrency offerings help boost the company’s outlook?
Robinhood is a financial services company that also acts as a retail trading platform for ordinary users. It's known for meme stocks and currently offers seven cryptocurrencies for trading.
Since Aug. 4, Robinhood (HOOD) has fallen nearly 70% from its ATH of $70.39 to $25.94, and it’s been below the $38 IPO price for weeks. Several factors are contributing to the fall, such as a drop in crypto and meme stocks day trading as the pandemic era comes to an end and people return to their offices to work.
Robinhood enjoyed big gains in Q2 2021 when Dogecoin (DOGE) trading accounted for 41% of Robinhood’s total
Read more on cointelegraph.comAbout this in other media
Robinhood is Working On Crypto Gift Transfers - Report cryptonews.com /2 years ago
Robinhood partners with Chainalysis ahead of crypto wallet launch cointelegraph.com /2 years ago
Bitcoin jumps past $50K as US CPI data shows highest inflation in nearly 40 years cointelegraph.com /2 years ago
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